Arab Finance: The United Nations Office on Drugs and Crime (UNODC) has signed a declaration of intent with the Egyptian Money Laundering and Terrorist Financing Combatting Unit (EMLCU) and its counterparts in the UAE, Saudi Arabia, and Bahrain for partnership in the field of combating money laundering and terrorist financing, the Egyptian cabinet announced in a statement on March 27th.
The parties agreed to jointly prepare a declaration of intent for a partnership that mainly targets developing capabilities and exchange of knowledge and expertise to combat money laundering, terrorist financing, and proliferation financing.
This declaration is the first of its kind in the Middle East region in terms of objective and the number of participants.
